Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Smart Grid Protective Relays Market by Type (Numerical Relays, Other), By Application (Residential, Commercial, Industrial) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Smart Grid Protective Relays Market by Type (Numerical Relays, Other), By Application (Residential, Commercial, Industrial) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 262747 4200 Electronics & Semiconductor 377 151 Pages 4.5 (46)
                                          

Market Overview:


The global smart grid protective relays market is expected to grow at a CAGR of 6.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for energy efficiency and modernization of aging infrastructure, coupled with the rising concerns over cyber-attacks and grid security. The numerical relays segment is expected to hold the largest share of the global smart grid protective relays market in 2018, owing to their ability to provide accurate protection against faults and disturbances in power systems. By application, the residential segment is projected to grow at a higher CAGR than commercial and industrial segments during the forecast period.


Global Smart Grid Protective Relays Industry Outlook


Product Definition:


A protective relay is a type of electrical switch that is used to protect an electrical circuit from damage. Protective relays are typically used to protect high-voltage circuits from short circuits or overloads.


The importance of Smart Grid protective relays can be summed up in one word: safety. By protecting high-voltage circuits, these devices help keep people safe by preventing fires, electrocutions, and other hazards.


Numerical Relays:


Numerical relays are electronic devices that perform the function of switching electrical power sources in a circuit. They are used to protect equipment from damage caused by overvoltage, undervoltage, and fault current. Numerical relay is an electronic switch which can be operated automatically or manually depending on the situation.


Other:


Other is a generic term used in smart grid protective relays market to represent any device or technology that is not included in the scope of the study. Other devices/ technologies include, home energy management systems, electric cars and other distributed generation technologies. The factors driving demand for O&M are safety & reliability and cost reduction which includes optimization of distribution system as well as generation system.


Application Insights:


The commercial segment dominated the global smart grid protective relays market in terms of revenue share in 2017. The growth can be attributed to the increasing number of commercial buildings and industries across the globe. For instance, according to a study by NTT Communications, it is estimated that around 40% of industrial applications are concentrated in Europe which indicates a significant potential market for industrial applications globally over the next seven years.


Industrial application is expected to witness significant growth over the forecast period owing to its ability to protect equipment from electrical Over-Voltage (Ov) and Under-Voltage (Uv) conditions that may damage or destroy sensitive electronics within an asset. Furthermore, growing demand for electric power distribution systems from various industries such as oil & gas; petrochemical; food & beverage; healthcare among others will drive industry expansion further driving demand globally over next seven years  (projected).


Regional Analysis:


North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period. This can be attributed to increasing investments and favorable government initiatives pertaining to smart grid development. For instance, in December 2016, the U.S Department of Energy launched a program called “Smart Grid: A New Vision” that aims at accelerating deployment of smart grid technologies across all sectors including residential, commercial, and industrial sectors by 2020.


Asia Pacific is anticipated to witness significant growth over the forecast period owing to rising demand for electricity distribution through electric wires coupled with growing penetration of digital services for consumers across various countries such as China and India among others).


The European region accounted for more than 20% share in 2017 owing both positively (government support).


Growth Factors:


  • Increasing demand for smart grid protective relays from utilities and industrial sectors to enhance the security of the grid
  • Rising concerns over cyber-attacks on critical infrastructure and the need for enhanced security measures, which is driving demand for smart grid protective relays
  • Growing investments in smart grids by governments around the world, which is expected to spur growth in the market for smart grid protective relays
  • Rapid advancements in technology that are resulting in new and innovative products being launched in the market, propelling growth of the Smart Grid Protective Relays market
  • Increasing awareness about benefits of using Smart Grid Protective Relays among end users

Scope Of The Report

Report Attributes

Report Details

Report Title

Smart Grid Protective Relays Market Research Report

By Type

Numerical Relays, Other

By Application

Residential, Commercial, Industrial

By Companies

ABB, Siemens, Texas Instruments, Schweitzer Engineering Laboratories, Inc., Eaton, Fanox, CETM, Beckwith Electric, Arcteq, GE

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year

2021

Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year

2030

Number of Pages

151

Number of Tables & Figures

106

Customization Available

Yes, the report can be customized as per your need.


Global Smart Grid Protective Relays Market Report Segments:

The global Smart Grid Protective Relays market is segmented on the basis of:

Types

Numerical Relays, Other

The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.

Applications

Residential, Commercial, Industrial

The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.

Some of the companies that are profiled in this report are:

  1. ABB
  2. Siemens
  3. Texas Instruments
  4. Schweitzer Engineering Laboratories, Inc.
  5. Eaton
  6. Fanox
  7. CETM
  8. Beckwith Electric
  9. Arcteq
  10. GE

Global Smart Grid Protective Relays Market Overview


Highlights of The Smart Grid Protective Relays Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Numerical Relays
    2. Other
  1. By Application:

    1. Residential
    2. Commercial
    3. Industrial
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Smart Grid Protective Relays Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.

Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.

The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.

How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
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Global Smart Grid Protective Relays Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?


Smart Grid Protective Relays are devices that can be used to protect against potential power outages. They can be installed in homes and businesses to help ensure that critical systems, such as air conditioning and heating, are operational in the event of a power outage.

Some of the key players operating in the smart grid protective relays market are ABB, Siemens, Texas Instruments, Schweitzer Engineering Laboratories, Inc., Eaton, Fanox, CETM, Beckwith Electric, Arcteq, GE.

The smart grid protective relays market is expected to register a CAGR of 6.5%.

                                            
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Smart Grid Protective Relays Market Overview    4.1 Introduction       4.1.1 Market Taxonomy       4.1.2 Market Definition       4.1.3 Macro-Economic Factors Impacting the Market Growth    4.2 Smart Grid Protective Relays Market Dynamics       4.2.1 Market Drivers       4.2.2 Market Restraints       4.2.3 Market Opportunity    4.3 Smart Grid Protective Relays Market - Supply Chain Analysis       4.3.1 List of Key Suppliers       4.3.2 List of Key Distributors       4.3.3 List of Key Consumers    4.4 Key Forces Shaping the Smart Grid Protective Relays Market       4.4.1 Bargaining Power of Suppliers       4.4.2 Bargaining Power of Buyers       4.4.3 Threat of Substitution       4.4.4 Threat of New Entrants       4.4.5 Competitive Rivalry    4.5 Global Smart Grid Protective Relays Market Size & Forecast, 2018-2028       4.5.1 Smart Grid Protective Relays Market Size and Y-o-Y Growth       4.5.2 Smart Grid Protective Relays Market Absolute $ Opportunity

Chapter 5 Global Smart Grid Protective Relays Market Analysis and Forecast by Type
   5.1 Introduction
      5.1.1 Key Market Trends & Growth Opportunities by Type
      5.1.2 Basis Point Share (BPS) Analysis by Type
      5.1.3 Absolute $ Opportunity Assessment by Type
   5.2 Smart Grid Protective Relays Market Size Forecast by Type
      5.2.1 Numerical Relays
      5.2.2 Other
   5.3 Market Attractiveness Analysis by Type

Chapter 6 Global Smart Grid Protective Relays Market Analysis and Forecast by Applications
   6.1 Introduction
      6.1.1 Key Market Trends & Growth Opportunities by Applications
      6.1.2 Basis Point Share (BPS) Analysis by Applications
      6.1.3 Absolute $ Opportunity Assessment by Applications
   6.2 Smart Grid Protective Relays Market Size Forecast by Applications
      6.2.1 Residential
      6.2.2 Commercial
      6.2.3 Industrial
   6.3 Market Attractiveness Analysis by Applications

Chapter 7 Global Smart Grid Protective Relays Market Analysis and Forecast by Region
   7.1 Introduction
      7.1.1 Key Market Trends & Growth Opportunities by Region
      7.1.2 Basis Point Share (BPS) Analysis by Region
      7.1.3 Absolute $ Opportunity Assessment by Region
   7.2 Smart Grid Protective Relays Market Size Forecast by Region
      7.2.1 North America
      7.2.2 Europe
      7.2.3 Asia Pacific
      7.2.4 Latin America
      7.2.5 Middle East & Africa (MEA)
   7.3 Market Attractiveness Analysis by Region

Chapter 8 Coronavirus Disease (COVID-19) Impact 
   8.1 Introduction 
   8.2 Current & Future Impact Analysis 
   8.3 Economic Impact Analysis 
   8.4 Government Policies 
   8.5 Investment Scenario

Chapter 9 North America Smart Grid Protective Relays Analysis and Forecast
   9.1 Introduction
   9.2 North America Smart Grid Protective Relays Market Size Forecast by Country
      9.2.1 U.S.
      9.2.2 Canada
   9.3 Basis Point Share (BPS) Analysis by Country
   9.4 Absolute $ Opportunity Assessment by Country
   9.5 Market Attractiveness Analysis by Country
   9.6 North America Smart Grid Protective Relays Market Size Forecast by Type
      9.6.1 Numerical Relays
      9.6.2 Other
   9.7 Basis Point Share (BPS) Analysis by Type 
   9.8 Absolute $ Opportunity Assessment by Type 
   9.9 Market Attractiveness Analysis by Type
   9.10 North America Smart Grid Protective Relays Market Size Forecast by Applications
      9.10.1 Residential
      9.10.2 Commercial
      9.10.3 Industrial
   9.11 Basis Point Share (BPS) Analysis by Applications 
   9.12 Absolute $ Opportunity Assessment by Applications 
   9.13 Market Attractiveness Analysis by Applications

Chapter 10 Europe Smart Grid Protective Relays Analysis and Forecast
   10.1 Introduction
   10.2 Europe Smart Grid Protective Relays Market Size Forecast by Country
      10.2.1 Germany
      10.2.2 France
      10.2.3 Italy
      10.2.4 U.K.
      10.2.5 Spain
      10.2.6 Russia
      10.2.7 Rest of Europe
   10.3 Basis Point Share (BPS) Analysis by Country
   10.4 Absolute $ Opportunity Assessment by Country
   10.5 Market Attractiveness Analysis by Country
   10.6 Europe Smart Grid Protective Relays Market Size Forecast by Type
      10.6.1 Numerical Relays
      10.6.2 Other
   10.7 Basis Point Share (BPS) Analysis by Type 
   10.8 Absolute $ Opportunity Assessment by Type 
   10.9 Market Attractiveness Analysis by Type
   10.10 Europe Smart Grid Protective Relays Market Size Forecast by Applications
      10.10.1 Residential
      10.10.2 Commercial
      10.10.3 Industrial
   10.11 Basis Point Share (BPS) Analysis by Applications 
   10.12 Absolute $ Opportunity Assessment by Applications 
   10.13 Market Attractiveness Analysis by Applications

Chapter 11 Asia Pacific Smart Grid Protective Relays Analysis and Forecast
   11.1 Introduction
   11.2 Asia Pacific Smart Grid Protective Relays Market Size Forecast by Country
      11.2.1 China
      11.2.2 Japan
      11.2.3 South Korea
      11.2.4 India
      11.2.5 Australia
      11.2.6 South East Asia (SEA)
      11.2.7 Rest of Asia Pacific (APAC)
   11.3 Basis Point Share (BPS) Analysis by Country
   11.4 Absolute $ Opportunity Assessment by Country
   11.5 Market Attractiveness Analysis by Country
   11.6 Asia Pacific Smart Grid Protective Relays Market Size Forecast by Type
      11.6.1 Numerical Relays
      11.6.2 Other
   11.7 Basis Point Share (BPS) Analysis by Type 
   11.8 Absolute $ Opportunity Assessment by Type 
   11.9 Market Attractiveness Analysis by Type
   11.10 Asia Pacific Smart Grid Protective Relays Market Size Forecast by Applications
      11.10.1 Residential
      11.10.2 Commercial
      11.10.3 Industrial
   11.11 Basis Point Share (BPS) Analysis by Applications 
   11.12 Absolute $ Opportunity Assessment by Applications 
   11.13 Market Attractiveness Analysis by Applications

Chapter 12 Latin America Smart Grid Protective Relays Analysis and Forecast
   12.1 Introduction
   12.2 Latin America Smart Grid Protective Relays Market Size Forecast by Country
      12.2.1 Brazil
      12.2.2 Mexico
      12.2.3 Rest of Latin America (LATAM)
   12.3 Basis Point Share (BPS) Analysis by Country
   12.4 Absolute $ Opportunity Assessment by Country
   12.5 Market Attractiveness Analysis by Country
   12.6 Latin America Smart Grid Protective Relays Market Size Forecast by Type
      12.6.1 Numerical Relays
      12.6.2 Other
   12.7 Basis Point Share (BPS) Analysis by Type 
   12.8 Absolute $ Opportunity Assessment by Type 
   12.9 Market Attractiveness Analysis by Type
   12.10 Latin America Smart Grid Protective Relays Market Size Forecast by Applications
      12.10.1 Residential
      12.10.2 Commercial
      12.10.3 Industrial
   12.11 Basis Point Share (BPS) Analysis by Applications 
   12.12 Absolute $ Opportunity Assessment by Applications 
   12.13 Market Attractiveness Analysis by Applications

Chapter 13 Middle East & Africa (MEA) Smart Grid Protective Relays Analysis and Forecast
   13.1 Introduction
   13.2 Middle East & Africa (MEA) Smart Grid Protective Relays Market Size Forecast by Country
      13.2.1 Saudi Arabia
      13.2.2 South Africa
      13.2.3 UAE
      13.2.4 Rest of Middle East & Africa (MEA)
   13.3 Basis Point Share (BPS) Analysis by Country
   13.4 Absolute $ Opportunity Assessment by Country
   13.5 Market Attractiveness Analysis by Country
   13.6 Middle East & Africa (MEA) Smart Grid Protective Relays Market Size Forecast by Type
      13.6.1 Numerical Relays
      13.6.2 Other
   13.7 Basis Point Share (BPS) Analysis by Type 
   13.8 Absolute $ Opportunity Assessment by Type 
   13.9 Market Attractiveness Analysis by Type
   13.10 Middle East & Africa (MEA) Smart Grid Protective Relays Market Size Forecast by Applications
      13.10.1 Residential
      13.10.2 Commercial
      13.10.3 Industrial
   13.11 Basis Point Share (BPS) Analysis by Applications 
   13.12 Absolute $ Opportunity Assessment by Applications 
   13.13 Market Attractiveness Analysis by Applications

Chapter 14 Competition Landscape 
   14.1 Smart Grid Protective Relays Market: Competitive Dashboard
   14.2 Global Smart Grid Protective Relays Market: Market Share Analysis, 2019
   14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.3.1 ABB
      14.3.2 Siemens
      14.3.3 Texas Instruments
      14.3.4 Schweitzer Engineering Laboratories, Inc.
      14.3.5 Eaton
      14.3.6 Fanox
      14.3.7 CETM
      14.3.8 Beckwith Electric
      14.3.9 Arcteq
      14.3.10 GE

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